Credit Suisse Starts Multi Packaging Solutions (MPSX) at Outperform

Tuesday, Nov 17, 2015

Credit Suisse initiates coverage on Multi Packaging Solutions with a Outperform rating and a price target of $21.00.

Analyst L. Kjellberg commented, "MPS's combination of a broad product offering and geographic reach is unique in the packaging industry, in our view. "

The analyst also said transformational M&A in 2014 creates near-term significant margin expansion. "Synergies, in combination with revenue mix changes and cost improvements, should drive margin expansion of 290bps between pro forma 2015 and 2017 to 16.3%. MPS targets long-term margins of 17.0%," the analyst said.

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